Legal & General Group Plc bought a new position in shares of MGM Resorts International (NYSE:MGM - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 346,589 shares of the company's stock, valued at approximately $16,570,000. Legal & General Group Plc owned 0.14% of MGM Resorts International as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. CYBER HORNET ETFs LLC purchased a new position in MGM Resorts International in the second quarter valued at approximately $25,000. Global Retirement Partners LLC grew its stake in MGM Resorts International by 55.9% during the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company's stock worth $29,000 after buying an additional 281 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of MGM Resorts International in the first quarter worth $30,000. Optiver Holding B.V. purchased a new position in shares of MGM Resorts International in the 1st quarter valued at $35,000. Finally, Fiduciary Financial Advisors purchased a new position in shares of MGM Resorts International in the 2nd quarter valued at $48,000. Institutional investors and hedge funds own 68.11% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on MGM shares. Weiss Ratings raised shares of MGM Resorts International from a "sell (d+)" rating to a "hold (c)" rating in a research report on Thursday, July 30th. Argus raised their price objective on MGM Resorts International from $45.00 to $55.00 and gave the company a "buy" rating in a research report on Monday, August 17th. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $43.00 target price on shares of MGM Resorts International in a research report on Wednesday, July 15th. UBS Group set a $48.00 target price on MGM Resorts International in a research note on Thursday, July 2nd. Finally, Morgan Stanley reiterated an "underweight" rating on shares of MGM Resorts International in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $53.37.
View Our Latest Analysis on MGM Resorts International
MGM Resorts International Price Performance
MGM opened at $42.39 on Monday. MGM Resorts International has a twelve month low of $29.18 and a twelve month high of $51.59. The firm has a market cap of $10.66 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 2.16 and a beta of 1.31. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 1.80. The company has a fifty day simple moving average of $45.53 and a 200 day simple moving average of $41.30.
MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.03. The company had revenue of $4.45 billion during the quarter, compared to analysts' expectations of $4.42 billion. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 EPS. Equities research analysts expect that MGM Resorts International will post 1.96 EPS for the current fiscal year.
MGM Resorts International Company Profile
(
Free Report)
MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.
The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.
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